Shimmick Corporation (SHIM), through its wholly owned subsidiary Shimmick Construction Company, Inc., entered into a loan and security agreement with Sixty-First Commercial Finance, LLC providing $14.3 million of borrowing capacity. The related promissory note matures October 2, 2031 and accrues interest at 9.31% per annum. Shimmick said it intends to use proceeds from the note for project expenses and other general corporate purposes.
The borrower granted a security interest in specified equipment and related assets, and Shimmick and a wholly owned subsidiary guaranteed the borrower’s obligations. Upon a default, the lender may charge interest at the lesser of 15.0% per annum and the maximum rate allowable under applicable law. It may also declare the debt and other obligations immediately due and payable, subject to applicable cure periods. On October 2, 2026, Shimmick repaid all amounts outstanding under and terminated its prior loan agreement. Amendments to two other credit agreements replaced references to that facility with references to the new loan agreement.
Shimmick Corp (SHIM) reported that its Chief Financial Officer, Todd Wilbur Yoder, acquired 113,315 Restricted Stock Units (RSUs) on August 31, 2026 through an exercise or conversion of a derivative security. The RSUs convert into common stock on a one-for-one basis and will vest and settle in three equal installments in 2027, 2028 and 2029, subject to his continued employment, bringing his directly held common stock to 234,691 shares after this transaction.
Shimmick Corp (SHIM) director and Chief Executive Officer Yal Ural reported an acquisition of 311,615 Restricted Stock Units, each representing a right to receive one share of common stock on a one-for-one basis. These RSUs vest and settle into common shares in three equal installments in 2027, 2028 and 2029, subject to continued employment. Following this award, Ural is reported as holding 491,795 shares or equivalent rights to common stock directly, and no transactions are reported as made under a Rule 10b5-1 trading plan.
AECOM reports updated beneficial ownership of Shimmick Corp common stock on an amended Schedule 13D. AECOM has beneficial ownership of 7,745,000 shares of Shimmick common stock, representing 18.7% of the outstanding class, based on 41,335,823 shares outstanding as of August 7, 2026.
The position includes 6,708,051 shares held directly and 1,036,949 additional shares that AECOM may acquire voting and dispositive power over within 60 days under an Escrow Services Agreement with Shimmick and Equiniti Trust Company, LLC. AECOM has sole voting and dispositive power over the reported shares.
Shimmick Corporation reported lower revenue but stronger profitability for the quarter and six months ended July 3, 2026. Quarterly revenue was $106.6 million, down 17% year over year, while gross margin rose to $12.5 million with a 12% margin, up from 6%. Net loss narrowed to $4.8 million from $8.4 million. For the first half, revenue declined 22% to $194.6 million, but gross margin nearly doubled to $23.4 million and net loss improved to $9.2 million from $18.1 million.
Performance benefited from improved results on Non-Core Projects as loss-making legacy jobs wind down and from favorable project close-outs and settlements, partly offset by lower activity on completed or winding-down projects. Backlog remained substantial, with about $991 million of projects and remaining performance obligations of $895 million with a 2.2-year weighted average life.
Liquidity reflects $18.1 million of cash, cash equivalents and restricted cash and negative operating cash flow of $24.6 million for the first half, an improvement versus the prior-year outflow. Total debt, net, increased to $72.4 million, and interest expense rose. Shimmick also completed an underwritten equity offering of 4.29 million shares at $3.50, raising roughly $14.0 million in net proceeds. The company disclosed ongoing legal matters, including a large California False Claims Act lawsuit, and continues to carry a full tax valuation allowance.
Shimmick Corporation reported results for the quarter ended July 3, 2026. Revenue was $107 million, down from $128 million a year earlier, but gross margin improved to $12 million, lifting gross margin to 12% from 6%. Net loss narrowed to $5 million versus $9 million, and Adjusted net loss was about $0.5 million.
Adjusted EBITDA rose to $4 million from roughly breakeven, the fourth consecutive positive quarter. Liquidity was $33 million. Backlog reached approximately $991 million, the highest since Q1 2024, with a Q2 book-to-burn ratio of 1.4x and $138 million of new awards plus $221 million of pending awards.
Management updated full-year 2026 revenue guidance to $525–$575 million, implying about 12% year-over-year growth at the midpoint, and reaffirmed Adjusted EBITDA guidance of $15–$30 million, which at the midpoint represents 350% growth over the prior year.
Shimmick Corp director Geoffrey E. Heekin exercised restricted stock units and received a new equity award. He converted 100,671 restricted stock units (RSUs) into the same number of common shares, reflecting a one-for-one RSU-to-share conversion. After this exercise, he directly held 209,449 common shares.
On the same date, he was granted 60,000 additional RSUs, which will vest and settle into common stock on the date of the next annual meeting of stockholders, subject to his continued service. Following this grant, he held 60,000 RSUs as a separate derivative position.
Shimmick Corp director Peter Kravitz increased his equity stake through compensation-related actions. On June 2, 2026, he exercised 100,671 restricted stock units (RSUs) into an equal number of common shares, bringing his directly held common stock to 184,940 shares.
The filing also reports a new award of 60,000 RSUs, which convert into common stock on a one-for-one basis and are scheduled to vest in full on the date of the next annual stockholders’ meeting, subject to his continued service.
Shimmick Corp director Joseph Del Guercio increased his equity stake through compensation-related transactions. He exercised 100,671 restricted stock units (RSUs) into the same number of common shares at a reported price of $0.00 per share, bringing his direct common stock holdings to 224,576 shares.
On the same date, he also received a new grant of 44,000 RSUs, which convert into common stock on a one-for-one basis. These new RSUs will vest and settle into common shares on the date of Shimmick’s next annual stockholder meeting, contingent on his continued service through that date.
Shimmick Corporation reported the results of its 2026 Annual Meeting of Stockholders held on June 2, 2026. Stockholders elected five directors to one-year terms ending at the 2027 annual meeting. Each nominee received over 22.6 million votes in favor, with relatively few votes against or abstentions.
Mitchell B. Goldsteen received 22,767,298 votes for and 777,200 against, while Ural Yal received 23,109,765 votes for and 37,886 against. Stockholders also ratified the appointment of Deloitte & Touche LLP as independent registered public accounting firm for the fiscal year ending January 1, 2027, with 25,372,573 votes for, 168,195 against, and 92 abstentions.